The Netherlands' manufacturing activity expanded at a faster rate in March, as new orders continued to fall sharply along with a renewed contraction in output, survey data from S&P Global revealed on Monday.
The Nevi manufacturing Purchasing Managers' Index declined to 46.4 in March from 48.7 in February. Any score below 50.0 indicates contraction.
New orders fell for the eighth consecutive month in March, and the latest decrease was the most pronounced in four months amid weak underlying demand conditions. New export orders also dropped notably.
Output fell for the first time in three months, reflecting lower new order intakes.
Firms considerably reduced their purchasing activity not only due to lower production requirements, but also growing caution towards inventory levels.
On the price front, cost burdens fell for the first time in thirty-two months. The output price inflation eased further and dipped to the lowest level since November 2020.
Manufacturers maintained a general sense of optimism about future output, albeit slightly lower than in February.
